WHY are annual credit reports necessary?

You should do them to assure yourself that nobody has stolen your credit -- identity theft is pretty darn scary. You can lose so much time and effort trying to repair your credit, so get credit reports annually.

Another great reason is to keep a good credit line open and available just in case you need it. You also can't get loans if you have really bad credit, right?

You can request a free credit report online here (if you order online via any of the three below, you will be charged... use this link for the free report). You can also send a letter via postal mail (addresses below). You can call and request a free credit report.